REC Approves ₹7,500 Crore for Brookfield’s 1,040 MW Hybrid Renewable Project in Kurnool

The Rural Electrification Corporation (REC) has sanctioned INR 7,500 crore in funding for Brookfield’s 1,040 MW hybrid renewable energy project at Kurnool, Andhra Pradesh. 

The project, developed by Evren, a clean energy platform formed by Brookfield and Axis Energy, features 640 MW of wind and 400 MW of solar capacity. With a total cost of INR 9,910 crore, this marks the single largest REC sanction ever extended to a private-sector project in India.

Project Scope and Strategic Significance

Evren has already lined up over 3 GW of renewable projects across Kurnool and Anantapur, contributing to Brookfield’s broader 8,000 MW pipeline in Andhra Pradesh with a total planned investment of INR 50,000 crore. 

Notably, this Kurnool project is among the first in India to offer State-level grid connectivity and a firm and dispatchable renewable power agreement under the Firm and Dispatchable Renewable Energy (FDRE) framework.

Andhra Pradesh IT Minister Nara Lokesh welcomed the announcement, stating, “Andhra Pradesh is rapidly emerging as India’s renewable energy hub. We are delighted to partner with global leaders like Brookfield in building the next generation of sustainable infrastructure that creates jobs, drives industrial growth, and strengthens our energy security.”

The funding milestone closely follows Minister Lokesh’s meeting with Brookfield Global President Connor Teskey in London, where both sides discussed enhanced collaboration across renewables, AI-ready data centres, and green infrastructure sectors.

Brookfield

Brookfield, an alternative investment manager with over USD 1 trillion in assets under management, boasts around 46 GW installed and a nearly 200 GW development pipeline. In India, Brookfield’s portfolio covers renewables, infrastructure, data centres, and real estate.